By Jim Bray, CFP Automotive Editor —— Bio and Archives--October 21, 2023
Electric vehicles are supposedly languishing on dealers' lots, as the great unwashed masses apparently eschew electrified autos in favour of the evil gas-powered ones.
Why do you think this may be?
Well, according to a survey done for BrokerLink, a subsidiary of Intact Financial Corporation—which claims to be one of "Canada's largest property and casualty insurance brokerages”—it's because those great unwashed don't know what's good for them.
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By Left Coast on 2023 10 20
The EV is an experiment . . . already they have sunk two ships, and damaged a third. Lloyds of London now requires EVs shipped on Cargo Ships to have dead batteries, disconnected and the cars on rolling pallets.
Insurance for homeowners with Attached Garages is now being questioned as are the ability of these Cars to ride on Ferry Systems. I know of one Body Shop who works on these vehicles who has a Separate Building for EVs . . . because especially after even a small accident they tend to have issues with catching fire.
The EV today is not ready for prime time . . . no one seems to mind that riding in an EV you are sitting in a massive EMF radiation zone. In Canada where sub zero temperatures are common for sometimes 1/3 of the year . . . what happens to your EV & it's battery? Performance can be seriously hampered by 50% or more . . . and they are difficult to charge outside at -10 or more.
The fact that the Battery is usually built in China or with Material refined & sourced in China makes the "Karbon Footprint" of an EV sitting in a showroom in Toronto = to your much cheaper ICV after you have driven it for 100,000 kms.
Then there's the fact that after only a few years the Depreciation on an EV is massive, after 5 or 6 years they are even less valuable, why you ask? Because they are staring down the likely replacement of the Battery, something that can cost in the $20 to $30 thousand $$ range, likely far more than the vehicle is worth.
Factor in the lack of Recycling in place to deal with the Toxic Batteries . . . and you have a product that is not going to pass the test of time.
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